Jim Harris: Cascading Impacts Of Autonomous Vehicles

by | October 16, 2020

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In this episode of Agents Influence podcast, host Jason Cass interviews Jim Harris, Disruptive Innovation Keynote Speaker, International Bestselling Author, Thought Leader, and Columnist at Strategic Advantage. Jim talks about disruptive innovation and the impacts of autonomous vehicles. He also shares his knowledge and expertise in auto insurance and exponential growth.

Episode Highlights:

  • Jason introduces Jim Harris. (3:23)
  • Is Jim an iPhone or an Android user? (4:28)
  • What was the last app that Jim downloaded? (4:41)
  • Does Jim love to win or hate to lose? (6:13)
  • What does Jim attribute to his success, skill or luck? (7:27)
  • Jim shares his theory called, the Funnel Theory. (7:38)
  • Jim mentions that during his eight weeks in the telemarketing subscription sales, he achieved the highest ever daily, weekly, and monthly sales. (8:05)
  • Jim shares his background. (10:28)
  • Jim mentions the first book that he co-author entitled, The 100 Best Companies to Work for in Canada. (10:39)       
  • Jim shares that he has written several other books, but his first book became a profound turning point for his career. (11:35)
  • Jim mentions that IBM was one of the hundred best companies they identified, and in 1990, they began laying off 200,000 people worldwide, half their workforce. (12:57)
  • Jim mentions his second book entitled, The Learning Paradox. (13:22)
  • What are Jim’s thoughts about the future of the automobile industry, and the automobile itself? (20:36)
  • Jim mentions that 94% of car accidents are due to human error. (20:42)
  • Jim shares that Tesla is currently providing insurance to its car owners in California, for 20% to 30% less than the traditional auto insurance. (22:12)
  • How would Jim explain to the agents the deeper disruption that they’re not seeing? (24:08)
  • Jim mentions that 2.5 million people are seriously injured or permanently maimed every year, due to car accidents. (24:48)
  • Jim shares that two companies are involved in micro-mobility. The Bird and the Lime, and they’re both electric scooters. (29:07)
  • Jim mentions that 60% of all trips in the US are less than five miles. (29:23)
  • Jim shares that the two scooter companies were the fastest two companies in the US history, to grow to a billion-dollar valuation and each did it in 12 months and they have both facilitated more than 100 million rides. (30:31)
  • Jim predicted that two major car companies are going to fall off a cliff, and cease to exist within the next five years. (31:06)
  • What are the effects of electric cars, and what does it mean to valuations? (31:25)
  • Jim shares that General Motors’ deal with Nikola, was a sign of desperation because it’s about hydrogen and not about electric. They should be focused on electricity because hydrogens are different from electricity. (32:26)
  • Jim shares that 10 years ago, Lexus represented 2% of the unit volume for Toyota sales in North America. But it represented 50% of the profit for Toyota and North America. (36:04)
  • Jim shares that Tesla is perceived as a luxury model and Tesla Model S accelerates faster than Porsche. Therefore, this disruption started by attacking the high-end luxury vehicle market. (36:58)
  • Jim mentions that 50% of all the electronic vehicles in the world are sold in China. (38:49)
  • Jim shares that Honda arrived with an inexpensive gas conserving vehicle, which eventually became the best-selling vehicle in America. (40:14)
  • Jim mentions that Uber is worth more than every taxi cab company in North America added together. (44:43)
  • Jim shares that what the industry needs is a single application that can be skinned in different ways. Allowing all the insurance manufacturers to get together, and create a single app that everybody can use. (46:14)
  • Jim shares that the whole idea about an app is to scale. There are millions of apps that are created, and the answer is an app that gets used aggressively and expands exponentially. (47:27)
  • Jason shares that nowadays, data is a huge element, and they’re now capturing that data. (49:06)
  • Jim mentions that the industry has to work on a global level. (49:55)
  • Jim explains Moore’s Law made by Gordon Moore, co-founder of Intel. (51:33)

Key Quotes:

  • “People say you are very lucky. Yes, I was lucky. But I co-created my luck in putting 300 opportunities in the hopper.” – Jim Harris
  • “This was a kind of two by four to the head for me, saying that if not even the best companies can create job security for people, what will create job security?” – Jim Harris
  • “Ultimately, what creates security for us as employees, and corporately, as organizations are one learning to change, accepting uncertainty. And what we tend to fear most as adults is learning, changing, and uncertainty.” – Jim Harris
  • “A crisis is a terrible thing to waste. This crisis is driving more change. It is responsible for more digital transformation in organizations, and processes than anything else.” – Jim Harris
  • “If you don’t think that the electrification of transportation is going to impact the industry going forward, I beg you to think again.” – Jim Harris
  • “If I am not mobile-centric if my business is not oriented to the smartphone, I am choosing not to use a supercomputer in the pocket of every single customer and prospect.” – Jim Harris

Resources Mentioned:

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